US dollar index tries to stablize after tanking to six month low, US equities crash

The US dollar index is trying to stabilize after recent slump. The dollar index lost around 1.60% yesterday, marking one of the biggest daily tumbles in recent times and testing around six month low. However, lows around 101 triggered some buying in the US currency and the Dollar index moved up near 102 mark today. It currently quotes at 101.76, almost unchanged on the day. Risk aversion also seems to be capping losses in the US dollar now as the currency has lost around 2% this week. Global equities stayed under immense pressure following the overwhelming US tariffs. The S&P 500 slid back into correction territory yesterday, dropping 4.84%. The Dow Jones Industrial Average tumbled 3.98% and the Nasdaq Composite fell 5.97%, logging its biggest decline since March 2020.

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